London based Pet Tech company Fi has secured USD 30 million funds in the seed funding round led by Longview Asset Management. The round values the start-up at north of USD 200 million.
Investors: The capitalization of USD 30 million funds took place in the series B round led by Longview Asset Management along with the participation from previous investors.
What the funding is for: The fresh funding would be utilized for expanding the global reach of the organization. According to sources the company is also aiming to invest in the development of the devices and accessories.
Founder of the company: Jonathan Bensamoun and Loren Kirkby
About the company: Fi is a privately held organization which operates under the business community industry. Its headquarters is established in London, United Kingdom and has a work strength of around 51-200 employees. They also deal with various specialties like business management, Pet healthcare products, connected pet collar devices and other accessories. Pet Fi is basically an online platform which brings together pet focused brands, communities and enterprises.
What the CEO has to say: “The company has experienced solid growth since launching in March 2019 and says demand for its product continued to grow in spite of COVID-19 pandemic. It’s still a fairly small operation but Fi is working on its growth and its availability in the U.S, the product was made available on the mega pet online retailer chewy in Q4 last year.” — Jonathan Bensamoun, Co- Founder of the company.
“There’s such a huge market in the U.S. that we are skirting the surface. We want to stay focused here and really make this a household product. The number one limitation to growth is that people just don’t know we exist or that category exists.” — Loren Kirkby, Co- Founder of the company
What the investors have to say: “We have been tracking Jonathen and the team at Fi for over a year now and have been incredibly impressed with their execution and rapid growth rate. They have established themselves as the clear leader in the emerging category of connected collars with a device which blows away the competition in terms of design, life and accuracy.” — General Manager at Longview Asset Management
“The company says discussions with large brick and mortar pet retailers are currently up in the air. In addition to research, we will assist the organization to go towards marketing and exploring additional retail partnerships to help grow the product’s footprint.” — CEO of Longview Asset Management.
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